Latest Moan From You and Me 2023

Quote from a BBC article:

Reacting to the latest figures, Chancellor Jeremy Hunt said: "While unemployment remains close to historic lows, rising prices continue to eat into pay cheques which is why halving inflation this year is one of our top economic priorities."

More people looking for work as vacancies fall

So basically Jeremy Hunt is going to take full credit for something that is largely inevitable irrespective of what he does or does not do.

Covid came along, bringing work from home, furlough, and immense pressure on supply chains. Work from home plus furlough meant massive reduction in commuting costs, and lockdown meant there's less opportunity to spend money. Coupled with supply chain problems, this inevitably led to massive inflation.

Of course there was some lag. It takes time get back to 100% so it took a while for supply chain issues to start to resolve. But business leaders don't get to be successful without adapting and overcoming challenges, so gradually things start to normalise. This coupled with the fact that people's covid savings are running out, and the inflation spike has led to people trying to reduce their spending, it is inevitable that inflation will fall soon. It has already started.

Jeremy Hunt and his colleagues know all this. They don't need to do anything to reduce inflation. In fact they couldn't even if they wanted. Yet they're already getting ready to take all the credit for something that market factors will cause to happen anyway.

 

Inflation is mostly caused by energy prices IMO.

Money grabbing multi national companies making hay while the sun shines.
These companies are bigger than any governments anywhere in the world and are holding us all to ransom, about time they were broken up.

 

Decided to have a go at growing some cucumbers this year. Picked this packet up from the garden centre yesterday.



Yes, you are reading that right - 10 seeds for £4.49.

 

The inflation rate will definitely fall as it's always based on 12 months ago.
As prices rose sharply at some point towards the end of last summer, in a few months they will be comparing prices to the higher prices we paid then.
So inflation will appear to drop dramatically, but we will still be stuck with the price rises that have happened and the lower rate of inflation, which will look good in comparison.
We need 12 months of deflation to even get anywhere near where we were a year ago.

 

That's what I was trying to say earlier, but you explained it far more succinctly than I did.

I'm still annoyed that Jeremy Hunt getting excited about the opportunity to take all the credit though.

 

I don't know about explaining it better, it's just been jangling around in my head for a while but tried to put it into words.

Yes, politicians always like to be there when the good stuff is handed out, not so keen on taking responsibility for the opposite though.

 

Supermarkets are rationing Peppers, make sure to rush out and buy them all up. I blame the media for scaremongering.

 

And there's mention in the media of a new bog roll crisis looming

 

Well there is now, do you own shares.

I thought the pepper crisis ended weeks ago.
They are looking at 40c in some parts of the Med next week.
I suspect that will be TOO HOT.

 

Tesco have reduced the size of the cardboard tube in their paper kitchen roll - so much it has rendered my wooden holder useless. Can I claim from them for it's replacement?

 

They are always going on about voter apathy, what about candidate apathy.
We have local elections coming up and none of the candidates have even put a leaflet in the door let alone wander the streets showing their face.